Mortgage Grapevine

Political: Under Obama, Oil and Gas Production on Federal Lands Is Down 40%

•Under the Obama administration, 2010 had the lowest number of onshore leases issued since 1984.
•The Obama administration held only one offshore lease sale in 2011.

UPDATE: The U.S. Energy Information Administration announced on Jan. 27 that data used for its study of oil and gas production on federal lands was “incomplete.” The EIA is currently reviewing information from the Department of Interior and will correct its report upon completion.

When the House of Representatives voted on a transportation bill, H.R. 3408, that expands oil drilling into long-protected areas and forces construction of the Keystone XL pipeline, Republican lawmakers proved their complete allegiance is to Big Oil. Although Republicans like House Speaker John Boehner have parroted the myth that the pipeline would “lower gas prices” and “reduce our dependence on hostile, unstable sources of energy,” their actions show that helping American families is only an empty promise.
Rep. Ed Markey (D-MA) offered an amendment to the bill during the Feb. 15 vote, giving the House a chance to “ensure that if the Keystone XL pipeline is built, the oil that it transports to the Gulf of Mexico and the fuels made from that oil remain in this country to benefit Americans.” But the amendment failed 173-254.
by That's funny! February 22, 2012 6:32 PM

STFU

Sincerely, by Thoughtforfood February 23, 2012 5:47 PM

Got your panties in a wad TFF!

The topic is Under Obama, Oil and Gas Production on Federal Lands Is Down 40%